A Novel Idea
A new company has launched, offering aspiring novelists an alternative route to publication.
In a first for the publishing industry, De Montfort Literature (DML) will pay writers from £2,000 per month to write their own novels, which DML will then design, publish and promote. Authors will also receive a share of the book sale profits.
The new publishing venture is the brainchild of Jonathan De Montfort, a successful hedge fund manager and keen writer, who decided to set up the company having experienced the difficulties of writing and publishing his own novel, ‘Turner’, a supernatural thriller about what it means to be human and the sacrifices people make for love.
Turner is the first novel to be published by De Montfort Literature.
Jonathan said: “As many writers will know, getting your book on the shelves is extremely difficult. Securing a literary agent is a complete lottery, while self-publishing is costly and time consuming.
“De Montfort Literature is a totally new model and will be a game changer for the fiction industry. Our goal is to produce more great literature by creating an environment in which authors can learn and develop.”
In addition to being paid a salary, writers will receive advice and support from professional mentors and editors. They will also get access to writing courses and classes to hone their skills.
De Montfort Literature is initially offering up to ten places to successful applicants, which it expects to increase up to 100.
While no previous novel writing experience is required, applicants will go through a rigorous selection process before being offered a contract. The process uses a series of tests and questions, the answers to which are put in to a system, similar to that used in hedge fund management to predict financial markets, to determine a candidate’s suitability.
Jonathan said: “I have taken what I know about hedge fund management and applied it to literature.
“When I set up my own hedge fund company, De Montfort Capital, I devised a system to predict the financial markets. Using various data, we predicted the bottom of the market in 2002, the 2008 crash and Brexit, amongst other significant global events.
“We believe we can use the same methodology to uncover untapped writing talent. Whilst experienced writers are welcome to apply, all we require is good ideas, imagination and a passion for storytelling.”